The National Insurance Commission (NAICOM) has removed108 insurance brokers out of the list of 421 licensed practitioners operating in the country for failing to renew their licences. Sources from NAICOM told our correspondent on Sunday that the affected brokers had been operating without meeting the regulatory requirements. “NAICOM decided to […]
Insurance
Greg Wolf: Make gun owners buy more insurance
Every firearm should be insured. Homeowner’s and renter’s insurance policies should all have provisions for gun ownership. Rates should depend on the types of guns, types of ammunition, method of storage, and other information relating to the dwelling and its occupants. Insurance companies should all offer personal liability policies for […]
Agric insurance set to lift incomes
By Faridah Kulabako Agriculture in Uganda continues to face a variety of uncertainties, ranging from commodity price fluctuations to unpredictable weather patterns, which are said to be holding back efforts to lift people out of poverty. First, the long dry spell that cause withering of crops in most parts of […]
ARIAN blames CIIN for huge number of unregistered agents
Gbadebo and Faruna Monday of NAICOM at the event Leave a comments Chuks Udo Okonta The Association of Registered Insurance Agents of Nigeria (ARIAN) has alleged that the proficiency test organised by the Chartered Insurance Insurance of Nigeria (CIIN) as apart of the criteria for an agent to be licensed, […]
Lasaco Assurance moves to insure Lagos N4.76bn security apparatus
Leave a comment Chuks Udo Okonta Lasaco Assurance Plc has entered into negotiations with the Lagos State Government over insurance of the recently procured security apparatus worth about N4.76 billion, secured to combat crime in the state. Inspen gathered that the underwriter had had meetings with agencies responsible for insurances […]
CIIN calls for tact over tenures for managing directors
Ahmed Leave a comment Chuks Udo Okonta The Director-General Chartered Insurance Institute of Nigeria (CIIN) Kola Ahmed, has called on proponents of tenure for managing directors to be careful in the handling of the initiative to forestall problems in the future. He told Inspen that the initiative is delicate, hence […]
Insurance agents plan black book for errant members
Mrs Omobola Tolu-Kushiro of the Nation Newspaper receiving Journalist of the year award from Gbadebo, while members of the ARIAN watch. Leave a comment Chuks Udo Okonta The Association of Registered Insurance Agents of Nigeria (ARIAN) has said it will launch an initiative tagged: ARIAN Black Book by first quarter […]
What to expect when the Draft Insurance Bill becomes and act in early 2016
The South African insurance industry has been undergoing significant changes this year, with more to be enacted early next year. On 17 April 2015, the National Treasury and the Financial Services Board issued a request for public comment on the Draft Insurance Bill, 2015 (“the Bill”). The Bill is in […]
Insurance: FCA plan to make firms show former premiums
By Kevin Peachey Personal finance reporter Households receiving insurance renewal quotes will be told how much they paid the previous year to compare prices, under new proposals. A trial by the Financial Conduct Authority (FCA), found that including the previous year’s premium on renewal notices prompted people to shop around. […]
1 in 10 insurance claims turns out to be a fraud
By Mayur Shetty Insurance claim frauds – which are growing in number and getting more innovative – have put insurers in a dilemma. Companies want to simplify the claims process and wipe out the trust deficit faced by insurers. But this is turning out to be tough when frauds are […]
